Western Countries Blame China for Global Economic Meltdown

 

Jan. 07, 2010 (Hamsayeh.Net) - China dismissed unfounded claims by a western newspaper report that its economic development in the past several years was behind the current global crisis.

 

China’s Foreign Ministry spokeswoman Jiang Yu, told journalists the ongoing global economic crisis has nothing in relation to China’s own economic growth.  ‘Whether the world economy develops or not does not rely on one certain nation, but needs the joint efforts of the whole international community, ‘ said Jiang Yu at a regular press conference, Tuesday.

 

In a report published in the British newspaper Guardian on Sunday, some economists concluded that rapid growth of China’s economy and its emergence on the global stage was the key factor behind international economic meltdown beginning in mid 2008.

 

Responding to the British newspaper claim, Jiang said at the time when economic crisis occurred in Latin America, Russia and East Asia, western countries attributed it to these countries and regions themselves. ‘The current crisis obviously originated in developed countries in the West, but these economists laid the blame on other countries rather than on their own,’ she said.

 

Western countries including the United States and some European countries, clearly upset at Chinese rapid economic progress lest they should lose their own remaining economic clouts in the global market for exports of industrial products, mostly blame China and other developing countries for the current economic recession.

 

Last month Europe renewed its impositions of additional tariffs on certain Chinese imports as a protectionist measure contrary to international trade regulations. China in turn imposed further taxes on imports of European manufactured steel products and promised to bring the dispute to WTO.

The Chinese FM spokeswoman reassured that Chin’s economy was well integrated into the global economy and Beijing continues to strengthen cooperation with the international community to bring about sustained economic growth around the world.